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At the beginning of 2019, Snipe Corp. traded in an old press for a newer model, significantly increasing their production capacity. The old press originally

At the beginning of 2019, Snipe Corp. traded in an old press for a newer model, significantly increasing their production capacity. The old press originally cost $18,830,000, but had a book value at the time of the trade of $1,883,000 and a market value of $2,071,000 In addition to the old press, Snipe Corp. also paid $828,000 for the trade. What did Snipe Corp. recognize as the book value of the new press? (A 25)

$2,711,000

$2,899,000

$18,830,000

$19,658,000

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